Korea's Ramen Market, 2021–2025: Flat Shares, Widening Gaps in Revenue and Profit

Domestic ramen market shares in Korea barely moved over five years, but revenue and operating profit diverged sharply. We compared 2021–2025 using retail store sales from aT’s Food Industry Statistics (FIS), ramen export data from Korea Customs Service, and each company’s DART filings. This article walks through the infographics we published on Instagram.

USD figures are converted at KRW 1,450 = USD 1.

1. Ramen map: domestic retail shares, 2021–2025

• Nongshim: 54.6% → 55.5%
• Ottogi: 22.2% → 21.1%
• Samyang Foods: 11.6% → 12.1%
• Paldo: 10.1% → 8.6%

Shares here are based on ramen retail store sales collected through aT retail POS data (discount stores, chain supermarkets, convenience stores, independent supermarkets and grocery wholesale marts). Online and other channels are excluded, so this is not the whole market, and the basis differs from company-disclosed (Nielsen) shares. Grocery wholesale marts are not included in 2021, so that year’s size is not directly comparable with other years.

2. Revenue and operating profit, 2021–2025

Operating profit is the profit from the core business, i.e., revenue minus cost of sales and SG&A. Consolidated figures include subsidiaries.

• Samyang Foods: revenue $442.8m → $1.6bn (3.7x), operating profit $45.1m → $361.5m
• Nongshim: revenue $1.8bn → $2.4bn (1.3x), operating profit $73.2m → $126.9m
• Ottogi: revenue $1.9bn → $2.5bn (1.3x), operating profit $114.9m → $122.2m
• Paldo (ramen and beverage segment): revenue $335.9m → $326.7m, operating profit $12.2m → $3.2m

3. Overseas revenue share and Korean ramen exports

Overseas revenue is consolidated revenue from overseas customers: exports by the Korean entity plus local sales by overseas subsidiaries.

Overseas share of revenue, 2025

• Samyang Foods: 80.1% (60.5% in 2021)
• Nongshim: 37.0% (35.2% in 2023)
• Ottogi: 11.2% (10.0% in 2021)
• Paldo: not disclosed

Korean ramen exports grew 2.3x, from USD 0.67bn (2021) to USD 1.52bn (2025).

Key Takeaways

1. Domestic shares flat for five years: from 2021 to 2025, retail shares moved only from 54.6% to 55.5% for Nongshim and from 11.6% to 12.1% for Samyang Foods.
2. A widening revenue gap: over the same period, Samyang Foods’ revenue grew 3.7x, from $442.8m to $1.6bn, while Nongshim and Ottogi each grew 1.3x.
3. Overseas revenue explains the gap: in 2025, 80.1% of Samyang Foods’ revenue came from overseas, far above Nongshim’s 37.0% and Ottogi’s 11.2%. Korean ramen exports also grew 2.3x in four years.
4. Overseas revenue led to a profit gap: Samyang Foods’ operating profit rose from $45.1m to $361.5m, 2.8x Nongshim’s in 2025.

In M&A, too, it is common to look at a company’s overseas revenue mix and profit trend separately from its domestic market share.

Limitations

• Shares are based on aT retail POS data (discount stores, chain supermarkets, convenience stores, independent supermarkets and grocery wholesale marts). Online and other channels are excluded, so this is not the whole market, and the basis differs from company-disclosed (Nielsen) figures. Grocery wholesale marts are not included in 2021.
• Revenue, operating profit and overseas revenue are consolidated and include businesses other than ramen.
• Overseas revenue combines exports by the Korean entity and local sales by overseas subsidiaries. Where it is disclosed differs by company (Samyang Foods: sales by region; Ottogi: sales by region; Nongshim: overseas revenue in the key audit matters of the audit report, disclosed from 2023).
• Paldo is unlisted; figures are for its general business segment (ramen and beverages). Consolidated figures including the holding segment were excluded as not comparable for ramen, and no domestic/export split is disclosed.

Sources

• Korea Agro-Fisheries & Food Trade Corporation (aT) Food Industry Statistics (FIS), 2026 Ramen Segment Market Report (September 2026): Table 25 (retail sales by manufacturer), Table 21 (ramen exports, Korea Customs Service trade statistics), Tables 26 and 28 (representative products)
• Financial Supervisory Service DART: 2021–2025 annual reports (consolidated) of Nongshim, Ottogi and Samyang Foods; 2021–2025 audit reports of Paldo (separate revenue and segment information)

This is market research compiled from public data, not investment advice, and its accuracy is not guaranteed.